The Morning Leverage: Summit Air Ambulance Lands With New Owner

Summit Air Ambulance is lifting off from Texas Next Capital’s portfolio. The firm has agreed to sell Summit Air to Reach Air Medical Holdings LLC, a division of Kohlberg Kravis Roberts & Co.-backed Air Medical Group Holdings Inc., Amy Or reports. Summit uses medically configured helicopters and airplanes to transport injured patients from accident scenes and community hospitals to places where they can receive higher levels of care.

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Elsewhere on the Web:

The Securities and Exchange Commission took the first in a series of steps aimed at giving regulators a better handle on risk in the $60 trillion asset-management industry, Andrew Ackerman reports for The Wall Street Journal.

Carlyle Group is nearing a close on its latest technology fund above its €500 billion target as it agrees to the fourth exit from its second tech fund, selling The Foundry Visionmongers Ltd. to HgCapital for £200 million, Yolanda Bobeldijk reports for LBO Wire’s U.K. sister publication Private Equity News (subscription required).

U.K. firm Electra Private Equity saw its diluted net asset value per share rise 12% in the first half of its financial year and said it would make its first-ever dividend payment, according to Reuters.

Also from Reuters: Joseph Bae, a KKR dealmaker sent to Hong Kong 10 years ago to set up its Asian operations, will move back to the U.S.